UWM Holdings Co. (UWMC) to Issue Quarterly Dividend of $0.10 on January 9th

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Thursday, December 19th will be paid a dividend of 0.10 per share on Thursday, January 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Thursday, December 19th.

UWM has a dividend payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect UWM to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 80.0%.

UWM Stock Performance

Shares of UWMC stock opened at $6.23 on Friday. The firm has a market cap of $595.17 million, a price-to-earnings ratio of -311.25 and a beta of 1.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50-day simple moving average is $7.77 and its two-hundred day simple moving average is $7.68. UWM has a 52 week low of $5.23 and a 52 week high of $9.74.

UWM (NYSE:UWMC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $507.09 million for the quarter, compared to analyst estimates of $540.31 million. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, equities analysts forecast that UWM will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UWMC has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of UWM from $7.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Morgan Stanley assumed coverage on UWM in a report on Tuesday. They set an “equal weight” rating and a $7.50 price objective on the stock. The Goldman Sachs Group increased their price target on UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Thursday, August 8th. BTIG Research increased their target price on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Wedbush boosted their price target on shares of UWM from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.66.

Insider Buying and Selling

In other UWM news, CEO Ishbia Mat sold 1,200,000 shares of UWM stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total transaction of $10,140,000.00. Following the completion of the transaction, the chief executive officer now owns 171,520 shares in the company, valued at approximately $1,449,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 94.11% of the stock is currently owned by company insiders.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.